From community roots to AI ambitions: byFounders shapes the 'New Nordics’ next chapter

byFounders, a venture capital fund based in Copenhagen, is shaping the next chapter of the "New Nordics" tech scene. The firm focuses on early-stage investments in the Nordics and Baltics, with a collaborative ethos that emphasizes community support. This approach differentiates them from some US-based firms and highlights the region's unique strengths in fostering innovation. byFounders typically invests €500,000 to €4 million in pre-seed and seed rounds, with the capacity to follow on in later rounds. The firm, founded by experienced entrepreneurs, has invested in notable startups such as Lovable, Monta, Corti, Omnio and Peergrade. The firm’s first fund was raised six years ago. The firm currently makes approximately 8-15 investments annually. This approach benefits founders by providing resources and connections to scale their businesses across Europe and beyond. The "New Nordics" region has a high concentration of unicorns per capita, high Series A to exit rates, and lower capital requirements to achieve unicorn status, outperforming major European economies. This model highlights the importance of community and collaboration in fostering digital innovation. The collaborative spirit among Nordic investors is a key advantage. byFounders aims to capitalize on the region's strengths, fostering a supportive ecosystem that encourages risk-taking and ambition. This focus on the New Nordics suggests a strategic commitment to building a European tech powerhouse.